2024-05-04 07:06:00
Citizens choose pork belly at a major supermarket in Seoul. ⓒ News1
Last month, global food prices increased by 0.3% from the previous month, maintaining an upward trend for two consecutive months. Last month, cereals, oils and meat products led the price increase.
According to the Ministry of Agriculture, Food and Rural Affairs on the 4th, the global food price index in April recorded 119.1 points, up 0.3% from the previous month. By product group, the prices of cereals, oil and meat increased, while the prices of dairy products and sugar fell.
Last month’s grain price index was 111.2 points, up 0.3% from the previous month. There was no significant change in international wheat prices last month. Concerns over wheat harvests in parts of the European Union, Russia and the United States have put upward pressure on prices, but continued competition among major exporters has contained the price rise.
In the case of corn, prices rose as import demand increased amid logistical difficulties linked to the Ukrainian conflict and as production forecasts in Brazil were revised downwards. International rice prices have fallen, particularly due to the impact of the Indica rice harvest.
In April, oils and fats recorded 130.9 points. Despite the decline in palm oil and soybean oil prices, prices increased overall as sunflower oil and rapeseed oil prices increased. In the case of palm oil, import demand stagnated while production in major producing countries increased, and in the case of soybean oil, prices fell due to good production prospects soybeans in South America.
In contrast, import demand for sunflower oil remains high and rapeseed oil prices have increased due to poor weather conditions in some European production regions.
The meat price index stood at 116.3 points, up 1.6% from 114.5 points the previous month. International beef prices increased as import demand remained high despite increased domestic production in major importing countries.
In the case of poultry meat, prices increased as demand for imports increased and production became difficult due to the avian flu outbreak in the Middle East. In contrast, pork prices fell, which was attributed to weak domestic demand in Western Europe and demand for imports from China and other countries.
The dairy product price index stood at 123.7 points, down 0.3% from the previous month. International butter prices have risen as import demand remains high and stocks in Western Europe dwindle. On the other hand, skimmed milk powder prices fell due to weak import demand amid sufficient export capacity, particularly in Western Europe, and cheese prices fell due to strong of the American dollar.
Sugar fell 4.4% to 127.5 points once morest 133.4 points the previous month. Prices are expected to have fallen as supply in India and Thailand is expected to increase compared to previous forecasts. In Brazil, rainfall improved between late March and early April following a long drought, easing some concerns regarding harvests, and the weakness of the Brazilian real once morest the U.S. dollar also contributed to lower sugar prices. However, the extent of the price decline was somewhat limited due to higher international crude oil prices and Brazilian ethanol prices.
(Sejong = News 1)
1714831429
#Global #food #prices #rise #month.. #Meat #Sugar
